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Is scarcity an economic problem with which all societies are faced?
Wiki User
∙ 7y ago
Scarcity IS the central problem of all economic activities and problems. Scarcity places a price to its consumption which in turn creates appropriate level of demand and supply. The factors of production (Land/Labor/Capital) is also limited (scarce) therefore needs to be allocated efficiently in order to create prosperity amongst all men.
Wiki User
∙ 13y ago
Wiki User
∙ 12y agoYes, but only superfluously - scarcity is a human economic problem, since everyone will never be able to have everything they want.
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What Field of economic deals with the problem faced by low income countries?
Economic development
What a the economic problems faced by the world?
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A major problem faced by settlers on the Great Plains in the 1870s was?
The scarcity of water.
What Field of economic deals with the problem faced by low income countries?
Economic development
What a the economic problems faced by the world?
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finding enough workers
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choices made by people faced with scarcity
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Problem faced by bank to export financing?
which problem faced by bank to export financing
What are challenges faced by hunters?
Food Scarcity-Seasonality. Climate Variations Predators disease over exploit resources
